Introductory Offer

The so-called “credit crunch” hasn’t seemed to slow the number of credit card offers that come to the house. They kind of remind me of dating. Of course, the only dating I’ve done for years is with my wife but I’m referring to the courting process, when you are dating someone new.

Both parties are in their “introductory period” trying to induce the other party to commit to longer, more binding terms. Like the introductory credit card deals, each are oftentimes offering attractive, sometimes irresistible terms to lure in the other party. That’s why your little peculiarities don’t seem like that big of a deal when you’re dating. She doesn’t seem to care that you leave the toilet seat up or that your priority every weekend is 18 holes. And he doesn’t seem to mind that you’ve just spent $300 on yet another outfit or that you’re gabbing on the phone with your BFF for hours on end everyday. Or she’s impressed by the fact that you planned a romantic dinner date and he’s impressed that you not only approve of but even encourage him to have all of his buddies over for the game each Sunday.

However, let that introductory period run out, and the teeth come out. I find it bizarre that the financial industry calls it “interest rate;” who in their right mind is interested in paying 8, 12, 20 or any percent on money borrowed? In fact, that’s about the time I start to lose interest. And that’s the same with dating. When it’s time to begin paying the the full price, when the grace period is over, the terms don’t look so impressive anymore. By that time, though, they got you. A commitment has been made, personal items have accumulated, you’re carrying some of each other’s baggage, you might have even purchased property together (like a house or car), you’ve got time invested that you just don’t know is worth giving up to start the process over again.

Most people miss or overlook the fine print, the details of the terms for when the intro period expires. This is a precarious position to be in. You failed to cash out when the gettin’ was good and now you’re stuck with the charges. Don’t over-commit. Keep at a distance until his or her real character starts to show through. Be careful not to settle for a sales pitch when you can find favorable terms that are permanent. Take it slow and cautious, don’t rush into things until you know full well what the penalties might be if your mate turns out to be a ferocious wolf (like my ex-wife) instead of the friendly puppy that you see in the beginning.